Across the nation, state and local governments have begun to identify what reopening will look like amid coronavirus shutdowns. As New York City anticipates the same task, experts, real estate leaders and former government officials have shared their thoughts on the necessities for recovery with commercial real estate media firm BISNOW. Among those experts is Columbia University’s Francisco Pineda, Academic Director of the M.S. in Construction Administration program. The consensus among these thoughts is that a clear and actionable economic development plan for restarting the economy must be included in reopening plans.
A trifecta of factors — the global pandemic, a voluntary global economic shutdown and coming down from the top of a booming economic and development cycle — make it more severe than crises the city’s real estate industry has seen in decades."Francisco Pineda, Academic Director - M.S. in Construction Administration
New York Gov. Cuomo looks to the federal government for funding to support a needed economic development plan for the state. However, executive and legislative leadership have expressed contrasting views on the likelihood of this happening and what it will look like. To learn more of Pineda’s insights and other expert perspectives about a successful recovery, read the full article here.